Living longer is a blessing – but can we afford it?

What happens when growing old becomes more expensive than ever been before? At first glance, it may seem strange to describe longer lives as a challenge. Surely living longer is something every society should celebrate. And it is. One of the greatest achievements of the past century has been the remarkable improvement in human health. Better healthcare, improved sanitation, advances in medicine and rising living standards mean that many Pakistanis are now living longer than previous generations. According to the World Bank, life expectancy in Pakistan has risen to approximately 68 years, reflecting decades of steady progress. The challenge is not that we are living longer. The challenge is that we have not yet adapted to what longer lives mean. At the same time, Pakistan’s population is beginning to age. Today, around 16 to 17 million Pakistanis are aged 60 years or above. By 2050, that number is expected to exceed 40 million. In other words, within the working lives of today’s younger generation, the number of older Pakistanis will more than double. This is not a demographic crisis. It is a development success story. It means more parents will watch their grandchildren grow up. More families will have the privilege of sharing longer lives together. It reflects improvements that every nation strives to achieve. The challenge is not that we are living longer. The challenge is that we have not yet adapted to what longer lives mean. People often assume that retirement is simply about replacing a salary. In reality, it is equally about preparing for a stage of life when household expenses may continue to rise even as regular earnings begin to fall. For most of our working lives, we rarely think about the cost of getting older. A regular monthly income quietly pays the household bills, keeps food on the table and covers everyday expenses. Few people stop to ask what life might look like twenty or thirty years after they stop working. Yet growing older rarely becomes less expensive. In many respects, it becomes considerably more costly. As we age, healthcare often replaces education as the largest household expense. Medicines become a regular monthly commitment rather than an occasional purchase. Routine medical tests become more frequent. Chronic conditions such as diabetes, heart disease, arthritis, and high blood pressure require ongoing treatment, while some older people eventually require assistance with everyday activities or long-term care. Medical science has helped us live longer. Unfortunately, it has also increased the number of years during which many people require medical treatment. This creates a challenge that many families underestimate. People often assume that retirement is simply about replacing a salary. In reality, it is equally about preparing for a stage of life when household expenses may continue to rise even as regular earnings begin to fall. For many Pakistani families, the greatest financial pressure is therefore not old age itself. It is the combination of living longer and facing higher healthcare costs at the very moment when employment income comes to an end. At the same time, families themselves are changing. Children increasingly leave their hometowns in search of education and employment. Many build careers overseas. Families are becoming smaller, while the cost of housing, education and raising children continues to increase. Adult children often find themselves supporting both their own families and ageing parents simultaneously. None of this suggests that families care less than they once did. Quite the opposite. The desire to care for ageing parents remains deeply rooted in our culture. The question is whether families, on their own, can continue to shoulder the financial consequences of longer lives, rising healthcare costs, and changing economic realities. Perhaps we also need to rethink what financial independence means in old age. It does not necessarily mean being wealthy. Longer lives are one of our greatest national achievements. The challenge before us is ensuring that those additional years are healthy, dignified, and financially secure. It means being able to buy your medicines without worrying about the cost. It means paying your household bills without feeling that every expense must be met by your children. It means retaining the dignity of making your own choices while knowing that your family is supporting you because they want to, not because they have no alternative. That distinction matters. Helping older people remain financially independent is not about weakening families. It is about strengthening them. Parents who have some financial security are often better able to preserve their dignity and independence. Their children, in turn, are better able to support them emotionally and practically without sacrificing the future of their own families. Financial resilience therefore benefits not only older people but every generation within the household. Pakistan should view this as an opportunity rather than a problem. Longer lives are one of our greatest national achievements. The challenge before us is ensuring that those additional years are healthy, dignified, and financially secure. Preparing for that future is not simply about money. It is about ensuring that the blessing of living longer never becomes a burden for the families who have always been the foundation of our society. The article does not necessarily reflect the opinion of Business Recorder or its owners.

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